In August 2016, the U.S. Economic Development Administration (EDA) awarded Catawba Regional grant funding of $1,040,000 to start an agribusiness revolving loan fund. Loans will be available to family farmers, agribusinesses, and aquaculture companies in 35 counties across the state.
South Carolina Agribusiness Loan funds can be used in conjunction with bank financing to fund up to 90% of eligible project costs. A market interest rate and negotiable terms can significantly lower overall debt service.
SC Agribusiness Loan General Guidelines:
- Loan amounts from $50,000 - $400,000
- Fixed Interest Rate
- Negotiable Terms
- Legal fees vary
- Uses for Loan Funds include: Land; Building; Building Expansion; Machinery Equipment; Working Capital; Agricultural & Farm